Buying Real Estate in Turkey
Due to Turkey being one of the most popular holiday destinations, an ever increasing amount of foreign tourists are visiting here. In view of this, property sales are also increasing. Many tourists are so taken by the stunning scenery and the friendly reception they receive from Turkish people; they rush to buy a holiday property. In many cases they have been informed of a great buy of a villa or apartment somewhere, by a taxi driver or waiter. They then without thinking of the possible consequences go and look at it, and in many cases decide there and then to buy it. Buying property in Turkey as claimed by both British and Turkish real estate companies is very easy. Actually this is true; also that you do not need to employ the services of an Avukat (lawyer). However, just think for a moment. If you were considering buying a property in your own country, (at least in England) you would most certainly take the advice from a lawyer before buying, so why not in Turkey. From an expat who has lived in Turkey for the past 25 years, I highly recommend using an Avukat if you decide to buy here. You need an Avukat who will be able to inform you of the latest laws re buying property here. This is necessary, as the law changes from time to time. Another idea is to check with the local Belediye if the property is legal and registered. If it is a new project and you have the plot number, it will show up on their large scale plans.
From previous reports in the news, when President Erdogan visited Bodrum, he was shocked at the amount of development there. Bodrum for those who do not know is a very popular holiday resort for foreign visitors. Unfortunately, after the Presidents visit, it was found that 60% of recently built properties, including some hotels, were built illegally.
In the Kemer area of Antalya, which has the largest amount of foreign tourists arriving every year, there are two illegally built complexes. One of which is virtually fully owned by foreign owners. Both of these complexes have caused major problems for their owners. In many cases, it has led to them having to pay out far more money than they expected to get their property classed as legal. Another complex on the other side of Antalya that was built around 20 years ago, has it appears major problems. This project, which was heavily publicised in the press many years ago due to fraud, may now well, be pulled down. It is in view of situations like these, I highly recommend you use an Avukat, and check with the Belidye before buying.
Despite of this, if you follow the advice given, Turkey is still a good place to buy property. At present due to the very good exchange rate, if buying in English pounds, prices are over 25% cheaper than a year ago. Housing now being built is far more controlled than in the past, which has resulted in higher quality. House prices here are still quite good value, especially when compared with those in the UK. That is apart from Istanbul. Here property investment has resulted in prices in some areas being comparable to those in London. This no doubt is due to Istanbul having been quoted by investment companies, as the best place in Europe to buy property. In some areas of Istanbul, numerous older properties found not coming up to the latest laws re earthquakes, are being pulled down and rebuilt to comply with the latest housing laws. This is of course a good thing, as they are rebuilt with the latest technology.
Another reason to buy property here is the weather, which on the Mediterranean coast gets around 300 sunny days a year. There is no need to worry about health care here, as it is also very good. There are many excellent hospitals equipped with the latest technology, with many doctors speaking English. It is in view of this that an ever increasing number of foreigners come to Turkey to have operations carried out. Here there are no long waiting lists. Operations are usually carried out a few days after examination. The cost of medical treatment compared to various countries is cheaper, with hospital care very good. Also the fine weather here helps recovery after an operation much quicker. One immediately feels better looking out at bright sunshine, rather than out at wet and miserable conditions. As one who has had two operations performed here in Turkey, I can only say I was well pleased with the treatment I received in hospital. In my opinion as an expat living in Turkey, I have found it to be a very healthy and relaxing place to enjoy life. I certainly have no regrets about moving here, in fact I think it one of the best things I have ever done.
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